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It’s been another week with far more retail news than there is time in the day. Below, we break down some things you may have missed during the week and what we’re still thinking about. 

From Shopify ditching meetings to a series of layoffs at retailers, here’s our closeout for the week.

What you may have missed

Macy’s ends Pure Beauty partnership at 20 stores

Macy’s has ended its partnership with Pure Beauty in around 20 of its store locations as of Dec. 31, a spokesperson for the department store confirmed with Retail Dive. 

“These decisions are always difficult, but we thank the Pure Beauty team for serving our customers and community,” the Macy’s spokesperson said. 

Pure Beauty, which provides spa and beauty treatments, still lists 29 Macy’s locations on its website. The company did not respond to Retail Dive’s request for comment about the closures. Pure Beauty also lists Hudson’s Bay as a retail partner. 

Tuesday Morning plans to go private

Off-price retailer Tuesday Morning in late December announced it notified the Nasdaq of its intent to delist from the stock exchange.

The company expects to have its common stock officially delisted from the stock exchange around Jan. 12

The decision is the “first step” in deregistering as a public company after facing near-term capital constraints resulting from lower-than-forecast sales, increased insurance costs and costs related to the departure of several executives in November.

“With the company’s liquidity position and the potential benefits of listing in mind, the board of directors has determined that the voluntary delisting of the company’s common stock is in the best interests of the company and its stockholders,” the company said in a press release.

Tuesday Morning believes a delisting and deregistering as a public company will yield benefits such as fundraising flexibility, lower operating costs, potentially lower regulatory and operating expenses, and a simplified corporate governance structure.

Tuesday Morning was notified earlier this year that it fell out of compliance with Nasdaq listing rules related to audit member requirements. In connection with the appointment of Andrew Berger as CEO, the company now only has two audit committee members. The Nasdaq requires a minimum of three audit committee members.

ThirdLove Leaps into Philadelphia

ThirdLove, one of the DTC lingerie brands that has siphoned share from market leader Victoria’s Secret, is making good on its renewed plans to expand its physical store fleet. The company has enlisted Leap, which works with several digital natives in developing their in-real-life footprint, to open a new location in Philadelphia’s Rittenhouse Square neighborhood, a popular shopping district. ThirdLove is the only national intimates brand to open in Philadelphia aside from Victoria’s Secret, according to a Leap spokesperson.

Leap works with 60 brands in markets including New York City; Los Angeles; Chicago; Southern Florida; Dallas; Austin, Texas; Scottsdale, Arizona; the San Francisco Bay Area; Boston; Columbus, Ohio; Greenwich, Connecticut; and Washington, D.C. The firm plans more store openings for other brands in the Philadelphia area over the next 12 months, including more in the Rittenhouse area and one at the King of Prussia Mall, according to the spokesperson, who said the push into Philly is a strategic move that helps expand its presence in the Mid-Atlantic beyond Washington, D.C.

Retail therapy

Fanatics no longer a fan of NFTs

Sports company Fanatics is reportedly divesting its majority stake in non-fungible token company Candy Digital, according to an internal memo obtained by CNBC.

The 60% stake will be sold to an investor group led by crypto merchant bank Galaxy Digital, per CNBC. 

Candy Digital was founded in 2021, and listed Fanatics CEO Michael Rubin as a “titan” who helped launch it in previous press releases. The NFT company has been deeply involved in digital collectibles for sports, landing a deal with Major League Baseball in 2021 to help build its “NFT ecosystem.”

Shopify sends meetings out the door

It’s always hard to go back to work after the holidays, but what if there were no meetings to return to? It might seem like a fantasy, but Shopify is making that a reality for employees.


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